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What is a Yat and why are people paying $425K for emojis?

The creators say that in Web3, your Yat will not only be a universal digital identifier, but it can be used as a URL, wallet address and can be minted on the Ethereum blockchain as a NFT.
Will emojis become the Web3 version of a username? That’s what Nashville-based tech startup Yat believes and with 160,000 sold worth a combined $20 million, it seems plenty of ordinary people agree. A Yat is a string of between one and five emojis that can be used as your digital username, website URL and as a payment address for your digital wallet. It’s sort of a cross between a nonfungible token (NFT) and domain address — though not all Yats are tokenized. “Yat lets you use emojis as your universal username and identity on the internet,” the company wrote in its Discord server. “Imagine being known as fire-snake or robot-ghost-crown instead of coffeequeen98 or jake2456@emailxyz.com. By owning a Yat — let’s say ocean-tride

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